Bank of New York Mellon Corp Invests $60.81 Million in Krystal Biotech, Inc. $KRYS

Key Points

• Bank of New York Mellon acquired 163,610 Krystal Biotech shares worth approximately $60.81 million, giving it a 0.55% stake; institutional investors collectively own 86.29% of the company.
• Krystal Biotech reported quarterly EPS of $1.79, beating consensus expectations of $1.70, while revenue of $119.22 million fell slightly short of estimates. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $365.40.
• The stock opened at $359.76, near its 52-week high of $382.54, with a market capitalization of $10.65 billion. Insiders sold 51,000 shares worth about $16.28 million over the past 90 days.

Bank of New York Mellon Corp bought a new stake in shares of Krystal Biotech, Inc. (NASDAQ:KRYS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 163,610 shares of the company's stock, valued at approximately $60,809,000. Bank of New York Mellon Corp owned 0.55% of Krystal Biotech at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Western Wealth Management LLC bought a new stake in Krystal Biotech in the 1st quarter valued at $34,000. Greenline Wealth Management LLC bought a new position in shares of Krystal Biotech during the 4th quarter valued at about $34,000. Danske Bank A S purchased a new position in shares of Krystal Biotech during the third quarter valued at about $35,000. UMB Bank n.a. grew its position in shares of Krystal Biotech by 34.6% during the fourth quarter. UMB Bank n.a. now owns 144 shares of the company's stock valued at $36,000 after purchasing an additional 37 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Krystal Biotech by 788.9% in the fourth quarter. Global Retirement Partners LLC now owns 160 shares of the company's stock worth $39,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 86.29% of the company's stock.

Krystal Biotech Stock Performance

KRYS opened at $359.76 on Thursday. The stock's 50 day moving average price is $348.38 and its 200-day moving average price is $303.24. Krystal Biotech, Inc. has a one year low of $136.73 and a one year high of $382.54. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 45.08 and a beta of 0.53.

Krystal Biotech (NASDAQ:KRYS - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.09. The firm had revenue of $119.22 million during the quarter, compared to analyst estimates of $120.93 million. Krystal Biotech had a return on equity of 19.34% and a net margin of 54.82%. As a group, analysts predict that Krystal Biotech, Inc. will post 7.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup increased their price target on Krystal Biotech from $378.00 to $386.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Weiss Ratings cut shares of Krystal Biotech from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. TD Cowen increased their price target on shares of Krystal Biotech from $306.00 to $403.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Bank of America lifted their price target on Krystal Biotech from $364.00 to $396.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Evercore restated an "outperform" rating and set a $300.00 price objective on shares of Krystal Biotech in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $365.40.

Insider Transactions at Krystal Biotech

In other news, Director Dino A. Rossi sold 25,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $329.12, for a total transaction of $8,228,000.00. Following the completion of the sale, the director directly owned 50,000 shares of the company's stock, valued at approximately $16,456,000. The trade was a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suma Krishnan sold 25,000 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $308.11, for a total value of $7,702,750.00. Following the transaction, the insider owned 1,378,155 shares in the company, valued at $424,623,337.05. The trade was a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 51,000 shares of company stock worth $16,278,020. 13.10% of the stock is currently owned by insiders.

Krystal Biotech Company Profile

Krystal Biotech, Inc is a clinical-stage biotechnology company focused on developing gene therapies for rare dermatological diseases. Headquartered in Pittsburgh, Pennsylvania, the company applies proprietary viral vector delivery technology to enable topical administration of corrective genes directly to the skin. By targeting the underlying genetic causes of inherited skin disorders, Krystal Biotech seeks to address areas of high unmet medical need with potentially transformative treatments.

The company's lead product candidate, KB103, is designed to deliver a functional COL7A1 gene to patients with dystrophic epidermolysis bullosa (DEB), a severe and often debilitating blistering condition.

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